[Gerben]

$this->bbcode_second_pass_quote('benzoil', 'I')nteresting. They own ABN Ambro, who owns LaSalle Bank - a large regional bank in the US Midwest. I wonder how a parent bank's woes affect its subsidiaries...

[benzoil]

$this->bbcode_second_pass_quote('Gerben', '')$this->bbcode_second_pass_quote('benzoil', 'I')nteresting. They own ABN Ambro, who owns LaSalle Bank - a large regional bank in the US Midwest. I wonder how a parent bank's woes affect its subsidiaries...

[lorenzo]

A few weeks ago, I posted a notice here in which the boss of the Benelux's biggest bank - Fortis - warned of a global financial "meltdown". Well, at least he's right about his own bank, which has just crashed.
$this->bbcode_second_pass_quote('', '[')b]Sale or break-up Fortis managers and government officials were considering two options for the beleaguered bank, the people said: A sale to a single buyer, or a break-up of the bank, which operates insurance and banking businesses throughout the wealthy Benelux region. Either option could depend on the willingness of government and central-bank officials to provide financial assistance or take on bad assets.

[DefiledEngine]

Hmm the goverment forcing you to pay to save the collective, isn't that exactly what communism is all about?

[Gerben]

Update:
$this->bbcode_second_pass_quote('', 'D')utch central bank chief Nout Wellink and Finance Minister Wouter Bos went to Brussels for talks with the Belgian government and regulators. European Central Bank President Jean-Claude Trichet met with Belgian Prime Minister Yves Leterme and Finance Minister Didier Reynders today.

[Sys1]

lorenzo : Your post could have been done by Joe Sixpack himself (or Vladimir Sixvodkas should I say as you mention your communist membership...). People want scapegoats while every one of us are guilty and victims of our own greed. Peak oil is the reason of the current economic crash. Forget politics, subprimes or bad speculators.
Growth is our paradigm. We have forgotten that we are on a finite planet with finite ressources.
You can bring back communism or keep capitalism, or even invent some awesome economic system we have never thought about, as soon as our civilization is based on the exponential use of non renewable ressources, we are doomed to fail.

{threads merged/Bas}

[lorenzo]

$this->bbcode_second_pass_quote('DefiledEngine', 'H')mm the goverment forcing you to pay to save the collective, isn't that exactly what communism is all about?

[idiom]

$this->bbcode_second_pass_quote('lorenzo', '')$this->bbcode_second_pass_quote('DefiledEngine', 'H')mm the goverment forcing you to pay to save the collective, isn't that exactly what communism is all about?

[eXpat]

Well, they are not searching for solutions anymore, Fortis has been rescued:
$this->bbcode_second_pass_quote('', 'S')ept. 29 (Bloomberg) -- Fortis, the largest Belgian financial-services firm, received an 11.2 billion-euro ($16.3 billion) rescue from Belgium, the Netherlands and Luxembourg after investor confidence in the bank evaporated last week.

Belgium will buy 49 percent of Fortis's Belgian banking unit for 4.7 billion euros, while the Netherlands will pay 4 billion euros for a similar stake in the Dutch banking business, the governments said in a statement late yesterday. Luxembourg will provide a 2.5 billion-euro loan convertible into 49 percent of Fortis's banking division in that country.

Fortis is the largest European firm so far caught up in the global financial crisis that drove Lehman Brothers Holdings Inc. into bankruptcy two weeks ago and prompted U.S. President George W. Bush to seek a $700 billion bank rescue package. Fortis dropped 35 percent last week in Brussels trading on concern the company would struggle to replenish capital depleted by the 24.2 billion-euro takeover of ABN Amro Holding NV units and credit writedowns.

[lorenzo]

$this->bbcode_second_pass_quote('idiom', '')$this->bbcode_second_pass_quote('lorenzo', '')$this->bbcode_second_pass_quote('DefiledEngine', 'H')mm the goverment forcing you to pay to save the collective, isn't that exactly what communism is all about?

[idiom]

LOL.

[Ferretlover]

Dutch media split over Fortis nationalization Sat Oct 4, 2008
$this->bbcode_second_pass_quote('', 'A')MSTERDAM (Reuters) - The government decision to nationalize the Dutch banking and insurance units of Fortis after the financial services group hit an acute cash crunch divided the country's media on Saturday.
In a surprise announcement on Friday, the Dutch government said it would pay 16.8 billion euros ($23.3 billion) for assets including Fortis's interest in ABN AMRO, the Dutch bank it bought in a consortium with Royal Bank of Scotland Plc last year.
The second state rescue of the Belgian-Dutch group in less than a week, which replaced last weekend's Benelux rescue package, effectively breaks up the cross-border group along national lines. …

[sameu]

and now they're preparing phase 3
a complete nationalisation of the Belgian part of Fortis